Civitas Solutions, Inc. (Civitas) recently announced it has entered a definitive agreement to be acquired by Centerbridge Partners, L.P. (Centerbridge) for $17.75 in cash per share of Civitas common stock—totaling about $1.4 billion.
Citing the reason for the acquisition, Centerbridge referenced its history of compassionate care and putting individuals first, stating that it believes the acquisition will help to ensure the highest quality lives for consumers. Civitas leadership also expressed their anticipation that the acquisition will deliver greater value to the organization’s shareholders, as well as bolster its ability to execute its long-term growth strategy and fulfill its mission through the expansion of high-quality and cost-effective services.
Civitas Solutions, Inc. is the leading national provider of home- and community-based health and human services to must-serve individuals with intellectual, developmental, physical, or behavioral disabilities, and other special needs. Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines—from private equity to credit and related strategies, and real estate—in an effort to find the most attractive opportunities for its investors and business partners.
This was reported by Cision PRWeb on December 18, 2018.
Contact Information: Civitas Solutions, 313 Congress Street 6th Floor, Boston, Massachusetts 02210; (617) 790-4800; Website: www.civitas-solutions.com
Contact Information: Centerbridge Partners L.P., 375 Park Avenue, New York, New York 10152; (212) 672-5000; Website: www.centerbridge.com